Rembrandt Bugatti Leads Artcurial $4.8m 'Impressionniste & Moderne' Auction in Paris

A work by Rembrandt Bugatti was the headline sale at Artcurial 'Impressionniste & Moderne' auction on June 5 in Paris.

• The sale totaled $4.8m (EUR4.19m), meeting the pre-sale estimate.

Snapshot of the sale

• 61 works sold totaling $4.8m.
• Estimates totaled: $4.62m (low) and $6.55m (high), excluding premiums.
• The sell-through rate was 40% of the original 154 lots announced.

The star lot was: Rembrandt Bugatti, Roaring Stag Followed by a Doe and Her Fawn (1903), which sold for $1.24m, 68% above its $732,500 low estimate.

The outperformer sold for 566% above its low estimate. Gustave Caillebotte, Study of Flowers, Petit Gennevilliers Garden (Undated), sold for $150,300 ($22,500 low estimate).

• 41 works, or 67%, sold above their high estimate.
• 20 works, or 33%, sold within their low and high estimate.
• 0 works, or 0%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

19 works were bought-in, including: Paul Eluard & Pablo Picasso, [Poem]. To Pablo Picasso. (1938), estimated at $67,600 (low) to $90,200 (high).

Withdrawn before the sale

74 works were withdrawn before the sale, including: Fernando Botero, Maternity (2003) estimated at $202,900 (low) to $281,700 (high).

Terms and definitions

All results include the fees and premiums added to the price of a work of art when the auctioneer's hammer falls. Estimates, sale prices and totals are converted into US dollars. Sale prices are compared to the auction house’s low estimate, which do not include premiums.

Guarantees: Sometimes an auction house guarantees to pay a seller for a work, regardless of whether the bidding reaches the reserve price, a figure that is typically confidential.

Bought-in: If there are no bids for a work, or if bidding falls short of the reserve price, the lot is unsold or “bought-in”.

Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.

Premiums: Typically a sliding-scale of charges paid in addition to the hammer price by the buyer, plus any other fees.